Farther Finance Advisors LLC Grows Stock Position in Commercial Metals (NYSE:CMC)

Farther Finance Advisors LLC grew its stake in shares of Commercial Metals (NYSE:CMC) by 13.6% in the third quarter, HoldingsChannel reports. The fund owned 7,126 shares of the basic materials company’s stock after buying an additional 853 shares during the quarter. Farther Finance Advisors LLC’s holdings in Commercial Metals were worth $392,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. First Dallas Securities Inc. grew its holdings in Commercial Metals by 0.8% in the second quarter. First Dallas Securities Inc. now owns 22,234 shares of the basic materials company’s stock valued at $1,222,000 after purchasing an additional 185 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Commercial Metals by 0.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 26,778 shares of the basic materials company’s stock valued at $1,473,000 after buying an additional 187 shares during the period. Tectonic Advisors LLC increased its holdings in shares of Commercial Metals by 1.6% during the 3rd quarter. Tectonic Advisors LLC now owns 17,774 shares of the basic materials company’s stock worth $977,000 after buying an additional 272 shares during the last quarter. SummerHaven Investment Management LLC raised its position in shares of Commercial Metals by 2.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 13,615 shares of the basic materials company’s stock worth $749,000 after buying an additional 276 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Commercial Metals by 21.9% in the second quarter. GAMMA Investing LLC now owns 1,572 shares of the basic materials company’s stock valued at $86,000 after acquiring an additional 282 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Commercial Metals Stock Down 2.8 %

Shares of NYSE:CMC opened at $61.08 on Friday. The company has a 50 day moving average of $53.33 and a two-hundred day moving average of $54.29. Commercial Metals has a 52-week low of $43.52 and a 52-week high of $62.94. The company has a quick ratio of 2.78, a current ratio of 3.94 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 2.17 and a beta of 1.14.

Commercial Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.72 dividend on an annualized basis and a yield of 1.18%. Commercial Metals’s dividend payout ratio is currently 17.39%.

Analyst Ratings Changes

CMC has been the topic of a number of research reports. Wolfe Research downgraded Commercial Metals from an “outperform” rating to a “peer perform” rating in a report on Wednesday, October 9th. BMO Capital Markets set a $62.00 price target on shares of Commercial Metals and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group assumed coverage on shares of Commercial Metals in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $65.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $65.25.

Commercial Metals Profile

Commercial Metals Company manufactures, recycles, and fabricates steel and metal products, and related materials and services in the United States, Poland, China, and internationally. It operates through two segments, North America and Europe. The company processes and sells ferrous and nonferrous scrap metals to steel mills and foundries, aluminum sheet and ingot manufacturers, brass and bronze ingot makers, copper refineries and mills, secondary lead smelters, specialty steel mills, high temperature alloy manufacturers, and other consumers.